Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
8762 articles across all sources
DoE cuts red tape for small-scale solar systems
SMALL-SCALE electricity end-users will be able to install solar power systems more quickly as the Department of Energy (DoE) streamlined the permitting process by removing prior approval hurdles.
Read more →S&P says preemptive measures to shield Philippines from ‘super El Niño’
THE National Government’s efforts to implement preemptive measures against the looming “Super El Niño” could cushion the economy despite its vulnerability to weather disruptions, Standard and Poor’s (S&P) Global Ratings said. “S&P Global Ratings believes that stronger early preparedness frameworks will keep the overall macroeconomic impact in Asia manageable,” S&P Asia-Pacific Senior Economist Vishrut Rana […]
Read more →Globe Telecom Q2 profit rises to P5.48B on higher revenues
GLOBE Telecom, Inc. posted a 0.37% increase in second-quarter net income to P5.48 billion on record revenues, but higher costs weighed on its first-half earnings despite continued growth in its mobile and digital businesses. For the three months ended June, the listed telecommunications company posted gross revenue of P46.95 billion, up 8% from P43.47 billion […]
Read more →Semirara Q2 income climbs 17% as power offsets weaker coal
CONSUNJI-LED Semirara Mining and Power Corp. (SMPC) reported a 17% increase in second-quarter (Q2) net income to P4.8 billion, as stronger earnings from its power business offset weaker contributions from coal operations. Revenue rose 25% to P18.60 billion from P14.82 billion a year earlier, driven by higher coal and electricity selling prices, as well as […]
Read more →Developers sell noncore assets as property slowdown seen lasting up to 3 years
PROPERTY DEVELOPERS are selling noncore assets and cutting debt as they brace for a market slowdown that could last another two to three years, consultancy firm PRIME Philippines said. Developers have shifted their priorities this year toward preserving liquidity and strengthening balance sheets as rising construction costs and growing environmental risks weigh on investment decisions, […]
Read more →Meralco moves to upgrade metering system to reduce system losses
MANILA Electric Co. (Meralco) is upgrading its older metering system as part of efforts to reduce system losses and improve monitoring of electricity delivered across its distribution network. In a statement on Wednesday, the power distributor said it continues to roll out its Elevated Metering Transformation (EMX) system, an upgraded version of its earlier Elevated […]
Read more →SMFB first-half earnings climb 4% to P22.1B on food sales
SAN MIGUEL Food and Beverage, Inc. (SMFB) posted a 4% increase in first-half net income to P22.1 billion, supported by stronger food sales despite weaker consumer demand and softer beer revenues. Revenue rose 2% to P205.3 billion for the six months ended June, while operating income increased 4% to P28.8 billion, the listed food and […]
Read more →D&L first-half profit up 8% on specialty products
D&L INDUSTRIES, INC. posted an 8% increase in first-half net income to P1.5 billion, supported by improving margins in its high-margin specialty products and a recovery in its food ingredients business despite persistent macroeconomic headwinds.
Read more →TDF yield goes up on rate hike bets as inflation stays elevated
THE BANGKO SENTRAL ng Pilipinas’ (BSP) term deposits fetched a higher yield on Wednesday on weaker demand and as investors expect further monetary policy tightening amid still elevated July inflation. Bids for the BSP’s term deposit facility (TDF) stood at P129.622 billion, well below the P150 billion in seven-day papers auctioned off. This was also […]
Read more →SSS raises Century Properties stake to nearly 10%
CENTURY PROPERTIES Group Inc. (CPG) said the Social Security System (SSS) increased its stake in the listed property developer to about 9.9% from 6.4% after acquiring 406.47 million additional common shares through a block sale. In a regulatory filing on Wednesday, CPG said the SSS acquired the shares from the company’s majority shareholder at P0.665 […]
Read more →Culion: An opportune testbed
“Buti naman naisip nyong bumisita dito (It’s good that you thought of visiting here).” Our guide uttered that remark in the middle of a tour of Culion Island’s main tourism area, lamenting that the sleepy island still rarely sees outsiders. The site of the world’s biggest leper colony in the 20th century where research yielded […]
Read more →PDIC pushes legislative agenda to boost protection, financial stability
THE PHILIPPINE DEPOSIT Insurance Corp. (PDIC) is pushing for legislative changes to improve its ability to protect consumers and ensure the stability of the financial system. The state deposit insurer is proposing to include nonbank financial institutions (NBFI) and cooperatives in its coverage to increase consumer protection, PDIC President and Chief Executive Officer Roberto B. […]
Read more →TMP sees auto market recovery despite global headwinds
TOYOTA Motor Philippines Corp. (TMP) said it expects market conditions to improve despite volatile oil prices and supply chain pressures, positioning the country’s largest automaker to rebuild sales momentum and increase vehicle supply. “While oil prices and supply chain pressures remain volatile, we are seeing encouraging signs of market recovery, and we are steadily rebuilding […]
Read more →Asia-Pacific consumers lead in digital use, cybercrime awareness
ASIA-PACIFIC (APAC) consumers lead their global counterparts in terms of both the use of digital platforms and awareness of cybercrimes, global cybersecurity and digital privacy company Kaspersky said. A B2C Pulse Survey conducted by Kaspersky Market Intelligence showed that consumers in the region outpace their global peers in terms of online shopping (80% versus 71%), […]
Read more →Spices: still hot
ON THE last day of July, Spices, the Southeast-South Asian restaurant of the Peninsula Manila, proved to us why it’s still a force to be reckoned with in the city (despite having been open since the mid-1980s). Spices held a dinner on July 31 to show off new additions to their Indian menu, with dishes […]
Read more →Peso surges as Iran deal hopes hit dollar
THE PESO ended sharply stronger against the dollar on Wednesday amid news of progress in the latest round of peace talks between the United States and Iran. The currency jumped by 41.4 centavos to close at P60.751 versus the greenback from its P61.165 finish on Tuesday, data from the Bankers Association of the Philippines’ website […]
Read more →Caring for the aged
I am not yet a senior, but I am getting there. Frankly, I am looking forward to becoming one in the Philippines. The list of privileges is encouraging, and from where I sit, we appear more generous than many other countries in terms of retail perks for those 60 and above. A Filipino who turns […]
Read more →PlayTime, Summit Media form venture to develop publishing technology
PLAYTIME Entertainment and Summit Media have formed a joint venture to develop technology platforms for media companies as publishers seek new tools to improve digital products, audience analytics, and content monetization. The venture, PT Summit, is 60%-owned by PlayTime Entertainment and 40%-owned by Summit Media. It aims to build technology for media and content creators […]
Read more →China Bank Savings books net earnings of P1.19 billion in first half
CHINA BANK SAVINGS, Inc. (CBS) recorded a net income of P1.19 billion for the first half of the year on steady lending despite challenging macroeconomic conditions. “The bank’s resilient performance was supported by the continued expansion of its core lending business, which drove revenue growth during the period,” the thrift subsidiary of listed China Banking […]
Read more →AboitizPower explores nuclear energy venture
Aboitiz Power Corp. is now looking at nuclear energy generation as a potential strategic opportunity after entering into a partnership with Korea Hydro & Nuclear Power Co. Ltd. (KHNP).
Read more →Barriers to own-use solar installations removed
Households may soon see faster deployment of own-use solar power facilities as the Department of Energy streamlines the permitting process by removing administrative hurdles.
Read more →D&L overcomes headwinds as profit grows 8% in H1
D&L Industries Inc., the country’s largest producer of oleochemicals and specialty plastics and food products, overcame headwinds in the first half, as the company managed to expand its profits by eight percent to P1.5 billion.
Read more →Globe profit falls 11% to P11 billion in H1
Globe Telecom Inc. sustained an 11-percent drop in profit in the first half, but the telco is confident of recovery thanks to the strength of its revenue base and growth of its e-wallet unit.
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